The East African nation's deposits are often in remote regions where the country's poorest live, but experts say few have reaped the rewards from mining.
The companies will focus on mining exploration on the lunar surface and expect to pre-test later stage activities, such as excavation and infrastructure buildup.
Shareholders of Barrick and Randgold will vote on Nov. 5 on an all-stock transaction that will create a company with operations in Africa, Australia, North and South America, Saudi Arabia and Papua New Guinea.
Chinese copper demand has been so strong in the past few months that top producer Codelco has almost sold out of supplies for next year, well ahead of schedule.